LessPass is a password management system based on a completly different idea compared to existing solutions.
Most of the solutions are based on a centralized storage of password protected by a master one. The centralized storage can be basic, like a spreadsheet on your own computer or on a server. It can be a little bit more complex like commercial solutions available nowadays.
LessPass is different is the sense that it will not memorize any of the password. The system will only generate the password based on the informations you will provide. You don’t need to trust someone else to keep your password safe.
Of course, the project is open source, the code can be audited. And, there’s no tracker on the website (you can check that with Privacy Badger for example).